International oil prices rose, during trading today, Tuesday, in light of expectations of strong demand levels for crude, with the continued recovery of the global economy.
US West Texas Intermediate crude futures rose 1.12% to $84.43 a barrel, while Brent crude futures rose 1.01% to $87.28 a barrel, according to CNBC data.
In addition to expectations, investors are still concerned about the impact of geopolitical tensions related to Ukraine on energy supplies to the markets, according to what was reported by “Russia Today” channel.
Markets are awaiting the US Federal Reserve’s (Central Bank) meeting, which will be held later today, amid expectations that the meeting will pave the way for the start of raising interest rates.
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